Chile's trade surplus narrowed to USD 607 million in March 2019 from USD 618 million in the same month of the previous year. Exports fell 4.6 percent to USD 6194 million, mainly due to lower sales of mining products (-7.6 percent), of which copper (-6.8 percent) and manufactured goods (-0.8 percent), namely cellulose, paper & others (-7.8 percent). Additionally, sales of agricultural, forestry and fishing products dropped (-3.9 percent). Imports declined 4.9 percent to USD 5587 million, mostly driven by lower purchases of consumption goods (-10.3 percent), mainly durable (-12.9 percent) and semi-durable (-14.7 percent); intermediate (-1.4 percent), of which oil (-20.2 percent); and capital goods (-7.7 percent). Balance of Trade in Chile averaged 475.75 USD Million from 1991 until 2019, reaching an all time high of 2968.68 USD Million in April of 2007 and a record low of -1384.72 USD Million in October of 2008.
Balance of Trade in Chile is expected to be 550.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Chile to stand at 300.00 in 12 months time. In the long-term, the Chile Balance of Trade is projected to trend around 500.00 USD Million in 2020, according to our econometric models.